Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. minor company had checks outstanding totaling $5,3

Minor Company had checks outstanding totaling $5,350 on its April bank reconciliation. In May, Minor...

50.1K

Verified Solution

Question

Accounting

Minor Company had checks outstanding totaling $5,350 on its April bank reconciliation. In May, Minor Company issued checks totaling $39,125. The May bank statement shows that $25,600 in checks cleared the bank in May. A check from one of Minor Company's customers of $643 was also returned marked "NSF." The amount of outstanding checks on Minor Company's May bank reconciliation should be

a. $64,725

b. $20,250

c. $18,232

d. $18,875

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Basic Math
1.2K views

An airline operates a call center to handle customer questions and complaints. the airline monitors a...

Biology
1.2K views

Choose Europe, North Africa, or Southwest Asia as the best region to contain Egypt. Write...

Geometry
1.2K views

Find the measure of each arc in OB GHJ GJI 71 mZGBI Choose GHI HJI...

Basic Math
1.2K views

5 Express as a power exponent must be in lowest terms b 32 c x...

Accounting
1.2K views

Franklin Company has a beginning balance of $28,009.21. Their checking account was debited for $20...

Accounting
1.2K views

Howard Rockness was worried. His company, Rockness Bottling, showed declining profits over the past several...

Accounting
1.2K views

The company's contribution format income statement for 2020 is given below: ...

Accounting
1.2K views

When preparing a statement of cash flows using the direct method, accrual of payroll expense...

Accounting
1.2K views

Arleen Gomez recently started her own cabinet repair business. Transactions for the first month of...

Accounting
1.2K views

Problem A small business owner visits his bank to ask for a loan. the owner...

Accounting
1.2K views

What is the effect of a stock dividend on stockholders' equity? Select one: a. Total...

Finance
1.2K views

After all foreign and U.S. taxes, a U.S. corporation expects to receive 4 pounds of...